FRONTEO’s Artificial Intelligence KIBIT to be Used in the Selection of the Bank of Yokohama’s New Graduate Recruits
April 5, 2018
TOKYO, April 5, 2018 -- FRONTEO, Inc. (“FRONTEO”) (NASDAQ: FTEO) (TSE: 2158), a leading provider of artificial intelligence (“AI”) based big data analysis services, announced that Concordia Financial Group, Ltd.'s Bank of Yokohama will use “KIBIT,” the AI engine independently developed by FRONTEO for the entry sheet selection of its FY2019 new graduate recruits.
Since last year, the Bank of Yokohama has been using KIBIT for the analysis of interview records with customers. For this new project, the Bank of Yokohama intends to use KIBIT in an initiative for conducting more objective and focused assessments of new graduate applicants. Results of a proof of concept trial on entry sheet assessment by KIBIT confirmed that KIBIT was capable of selecting applicants based on more objective, consistent assessment axes.
In the selection in FY2019, KIBIT, which has learned past data as training data, will read sentences stating aspirations and motives, etc. of applicants and quantify its assessments. Based on KIBIT’s assessment, applicants who meet overall selection criteria will pass the documentation screening phase and continue with selection procedures, including an interview.
KIBIT is a technology capable of learning "tacit knowledge" and "sensibility" that experts view as important on the basis of their own experiences, and ranking in descending order of relevance large amounts of target text data. KIBIT achieves advanced information analysis techniques that allow people to extract quickly and accurately the information that they want rather than search data items one by one using keywords or other methods.
Using KIBIT, the Bank of Yokohama has been able to drastically reduce the time required for checking entry sheets, which was previously a laborious task requiring multiple recruitment officers to screen thousands of entry sheets and make decisions on whether to accept or reject applications. The Bank of Yokohama now intends to engage in more dense employment selection activities by appropriating newly created time for personal interviews and other face-to-face communications. Continuing on from this project, FRONTEO will further develop its services using AI in human resource technology.
KIBIT is an AI engine developed by FRONTEO. KIBIT is a word coined by combining "kibi," a Japanese word meaning "subtlety," and "bit," the smallest unit of digital information, in order to indicate an AI capable of understanding the subtle elements of human behavior and personality.
About FRONTEO, Inc.
FRONTEO, Inc. (“FRONTEO”) (NASDAQ: FTEO) (TSE: 2158) supports the analysis of big data based on behavior informatics by utilizing its technology, "KIBIT". FRONTEO's KIBIT technology is driven by FRONTEO artificial intelligence based on knowledge acquired through its litigation
support services. KIBIT incorporates experts' tacit knowledge, including their experiences and intuitions, and utilizes that knowledge for big data analysis. FRONTEO continues to expand its business operations by applying KIBIT to new fields such as healthcare and marketing. FRONTEO was founded in 2003 as a provider of e-discovery and international litigation support services. These services include the preservation, investigation and analysis of evidence
materials contained in electronic data, and computer forensic investigation. FRONTEO provides e-discovery and litigation support by making full use of its data analysis platform, "Lit i View", and its Predictive Coding technology adapted to Asian languages. The company name was changed from UBIC, Inc. to FRONTEO, Inc. as of July 1, 2016.
For more information about FRONTEO, contact firstname.lastname@example.org or visit http://www.fronteo.com/global/.
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CONTACT: FRONTEO Global PR